By Joseph Branch in Economics News —

Life on the coast is losing popularity: Migration from California accelerated because of the COVID-19 pandemic

Life on the coast is losing popularity: Migration from California accelerated because of the COVID-19 pandemic
Photo by Clay Banks / Unsplash

Long-term migration from California accelerated during the Covid-19 crisis, according to a study by the Federal Reserve Bank of Chicago. The main destinations are Texas, Washington and Florida.

Migration is occurring in sync with the relocation of the headquarters of major companies. For example, Tesla Inc. and Oracle Corp. have also moved their headquarters to Texas.

One reason for recent months may be the unprecedented rise in gasoline prices in coastal states.